NATIONAL AGRICULTURAL DEVELOPMENT FUND (ESTABLISHMENT) ACT, 2022

Section 17: Power to borrow

2022Section 17 of 27Federal Republic of Nigeria

1 The Fund may borrow by way of overdraft or otherwise such sums as it may require for the performance of its functions under this Act.

2 The Fund shall not, without the approval of the Minister, borrow money which exceeds at any time, the amount set by the Government as the limit of the authority of the Fund.

3 Where the sum to be borrowed is in foreign currency, the Fund shall seek and obtain the approval of the Minister through the Board.

Cite this section

Section 17, NATIONAL AGRICULTURAL DEVELOPMENT FUND (ESTABLISHMENT) ACT, 2022 (2022).

https://repo.podus.ai/laws/national-agricultural-development-fund-establishment-act-2022/section/17/